6-K
BAIDU, INC. filed this Form 6-K on 02/14/2018
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Fiscal Year 2017 Financial Highlights

 

    Total revenues were RMB 84.8 billion ($13.03 billion), increasing 20% from 2016. Mobile revenue represented 73% of total revenues, compared to 63% in 2016.

 

    Operating profit was RMB 15.7 billion ($2.41 billion), increasing 56% from 2016. Operating margin reached 19%, compared to 14% in 2016.

 

    Non-GAAP operating profit was RMB 18.9 billion ($2.91 billion), increasing 60% from 2016. Non-GAAP operating margin reached 22%, compared to 17% in 2016. iQIYI reduced non-GAAP operating margins by 11 percentage points in 2017.

 

    Net income attributable to Baidu was RMB 18.3 billion ($2.81 billion) and diluted earnings attributable to Baidu per ADS was RMB 52 ($8.06). Non-GAAP net income attributable to Baidu was RMB 22.3 billion ($3.42 billion) and non-GAAP diluted earnings per ADS was RMB 64 ($9.79).

 

    Adjusted EBITDA was RMB 23.3 billion ($3.59 billion), increasing 48% from 2016, or 28% of total revenues.

Other Highlights

 

    Baidu’s annual conference Baidu World was held in Beijing in November 2017. This year’s theme was “Bring AI to Life,” which highlighted Baidu’s efforts to bring AI to everyday life by enabling products and services to adopt Baidu’s AI to better understand and serve consumers. At the event, Baidu launched DuerOS 2.0.

 

    Baidu showcased Apollo and DuerOS at the Consumer Electronics Show (CES) in Las Vegas in January 2018 and announced Apollo 2.0.

 

    Baidu and the government of Xiong An in China’s Hebei province signed a strategic collaboration agreement to develop the new economic zone into a smart city powered by smart transport, voice assistance and cloud computing.

 

    Baidu launched Bear Paw account to improve the search experience and enable businesses and brands to engage with Baidu users.

 

    Baidu and Huawei formed a comprehensive strategic cooperation that spans from AI platforms and technology to internet services and content ecosystem.

 

    Baidu and China CITIC Bank announced the opening of a joint venture, Baixin Bank, which offers online and telephone banking services and a range of innovative services that leverage Baidu’s AI technology and big data.

 

    Baidu opened a second R&D facility in Silicon Valley and a new engineering office in Seattle, WA, which will focus on autonomous driving, Internet security and other development work.

 

    Baidu launched Baidu Wifi Translator, a portable translation and hotspot device that audio translate several languages using advanced deep learning, voice recognition and other AI technologies. In partnership with Ctrip, Baidu’s portable translation and hotspot device is available in various airports throughout China.

 

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